General Discussion

daredtowork

(3,732 posts)

59. These are the students who are rich IN college

Thu Jul 16, 2015, 01:39 PM

Jul 2015

Developers are actually building luxury apartments in college towns FOR students. Often parents buy the condo or house as an investment: the student lives in the place while they go to college while the parents make more money off the student's housemates/roommate. Then the condo/house can be sold at a profit after college.

Poor people go into debt during college. Rich people with good credit and liquid money to invest are positioned to make bank off the situation. Poor people can't do this.

At the same time, rich people may be contributing to a housing crisis in the local community if they think this property is such a good investment that they buy up more units and help push up a speculation bubble. The people who need to live there are competing with out-of-towners who are just looking for investment properties. In some cases these investors are from foreign countries. China is an avid investor in college towns because those properties are considered stable investments. Real estate investment firms go on junkets to Hong Kong to sell packages of US properties for Chinese people to invest in. Local real estate firms get in on the action by collecting local properties and packaging them for the bigger fish.

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Millennials Who Are Thriving Financially Have One Thing in Common [View all] damnedifIknow Jul 2015 OP

Ha! I knew the answer before I opened the post! gollygee Jul 2015 #1

The article sounds as if this is new yeoman6987 Jul 2015 #3

Yep... Phentex Jul 2015 #6

+1 daleanime Jul 2015 #12

That was my thoughts exactly AwakeAtLast Jul 2015 #25

Except that most generations since the New Deal had real opportunity for upward mobility. Those jwirr Jul 2015 #46

No, the large nmber of college graduates returning to their whathehell Jul 2015 #93

True but the percentage of boomers who went to college is small yeoman6987 Jul 2015 #96

Yup. 3% Igel Jul 2015 #9

Me, too. It's always this answer, year after year. nt valerief Jul 2015 #101

Yeah, no surprise there. Gormy Cuss Jul 2015 #2

By that time his or her job will have been shipped to Bombay hifiguy Jul 2015 #90

and so it goes...... n/t restorefreedom Jul 2015 #4

Only the Rich will be able to afford a College Education. PeoViejo Jul 2015 #5

Evil spawn? Indydem Jul 2015 #13

Not twisted PeoViejo Jul 2015 #15

It seems like decent people who are rich are not plentiful Stargazer99 Jul 2015 #33

Such a narrow world view. Indydem Jul 2015 #63

Millions? BrotherIvan Jul 2015 #87

"There are plenty on our side?????" Where are you getting your information? japple Jul 2015 #97

You are delusional marions ghost Jul 2015 #111

That's a weird thing to say (nt) Recursion Jul 2015 #85

Wait... I'm confused. Is college something you should be able to afford... lumberjack_jeff Jul 2015 #95

Philadelphia is full of them. onehandle Jul 2015 #7

As Trump proudly announces he's worth 10 billion damnedifIknow Jul 2015 #10

The 'Creative Class' Populist_Prole Jul 2015 #47

Huge gentrification happening in major cities- DC, NY, Boston, Chi, Sea, Port, SF where appalachiablue Jul 2015 #99

There must be an equivalent with these guys to the NINJA loan. Eleanors38 Jul 2015 #51

And military people get a nice benefits package madville Jul 2015 #8

...... daleanime Jul 2015 #14

I was going to suggest the same thing for those who don't have a Daddy Warbucks in Hestia Jul 2015 #16

I suggest it to many people madville Jul 2015 #100

How dare you!? Indydem Jul 2015 #17

Exactly madville Jul 2015 #28

And sometimes a bullet in the head. Would you know that from your lazyboy? "free" my ass.n/t jtuck004 Jul 2015 #19

90%+ never enter a combat zone madville Jul 2015 #24

When a person enters the military they are giving of themselves for government service, and jtuck004 Jul 2015 #29

I never said it wasn't earned or undeserved madville Jul 2015 #32

You wrote " free 4 year Post 9/11 GI Bill..."< It's not free at all. jtuck004 Jul 2015 #40

Yeah I paid $1800 to buy into the old GI Bill madville Jul 2015 #42

Yeah. <G> n/t jtuck004 Jul 2015 #45

I know, seriously, what the fuck! J_J_ Jul 2015 #27

You have no idea AwakeAtLast Jul 2015 #30

Thank you for your service madville Jul 2015 #38

Providing they don't get slaughtered in one of our wars (like for oil) Stargazer99 Jul 2015 #34

My husband served before the Vietnam War. He was able to go to college only because JDPriestly Jul 2015 #41

Coast Guard and Navy are good too madville Jul 2015 #53

Joining is a deal with the devil, though. Not only do you risk putting yourself in grave danger, Arugula Latte Jul 2015 #61

So who is Obama slaughtering brown people for? Indydem Jul 2015 #64

Top corporations benefitting from U.S. military action Arugula Latte Jul 2015 #73

Did you actually write that? BrotherIvan Jul 2015 #88

In the medium run, each and every oil company in the world hifiguy Jul 2015 #91

Yes, those benefits have proven very helpful to me. JustABozoOnThisBus Jul 2015 #68

Those are good things about the modern benefits madville Jul 2015 #70

They also get dead in illegal wars of aggression. n/t PowerToThePeople Jul 2015 #110

I knew the punch line before I read the article. NV Whino Jul 2015 #11

Let me offer a more nuanced view Proud Public Servant Jul 2015 #18

"We just need policies that compel that rich country to act like the rich parent it is." < It does jtuck004 Jul 2015 #22

Thank you very much for your daughter's story. And especially the last line. jwirr Jul 2015 #48

Rent in Los Angeles is absolutely ridiculous. Initech Jul 2015 #20

I don't see how people can afford to live here. JDPriestly Jul 2015 #37

Yeah I'm looking at relocating to Colorado at some point. Initech Jul 2015 #58

it will be more affordable fizzgig Jul 2015 #67

Same here in the DC area. alarimer Jul 2015 #69

My daughter lived in L.A. for two years DFW Jul 2015 #74

I loved the coastline and surfing in CA but came back home to TN because of high cost of living Skeeter Barnes Jul 2015 #83

I'm a millennial who is thriving (by the standards of the article) linuxman Jul 2015 #21

YMMV. Erich Bloodaxe BSN Jul 2015 #31

And it doesn't require a college degree either Go Vols Jul 2015 #44

Construction jobs can't be outsourced hifiguy Jul 2015 #92

self taught? working on linux? J_J_ Jul 2015 #39

Nope, I just needed a username and I like the OS linuxman Jul 2015 #102

This concept really is not a new concept at all. hamsterjill Jul 2015 #23

But a university education was not so hard to pay for. It was less expensive, especially JDPriestly Jul 2015 #35

This should be it's own OP. HughBeaumont Jul 2015 #71

Actually, the older generation, those of us who had it easier JDPriestly Jul 2015 #79

Just look at the University of California system Prism Jul 2015 #76

+1000. JDPriestly Jul 2015 #78

This is why Bernie's message should be important to African-Americans. JDPriestly Jul 2015 #26

When I graduated,1963, jomin41 Jul 2015 #36

They're white? n/t 951-Riverside Jul 2015 #43

Before the GI Bill moondust Jul 2015 #49

Yes. And 90% of these income/class stories are based on a myth WestCoastLib Jul 2015 #54

It's not a myth. moondust Jul 2015 #57

Unique set of circumstances 1939 Jul 2015 #62

Very true, but 90% of America hasn't digested that yet (nt) Recursion Jul 2015 #86

"people who have money don't lack for money" MisterP Jul 2015 #50

When did parents helping out their kids become news? I'm a Boomer, and MY parents gave me $$$$$$ to WinkyDink Jul 2015 #52

Living with their parents doesn't necessarily mean they're struggling financially. pnwmom Jul 2015 #55

There are three basic requirements for success in a capitalist system: Maedhros Jul 2015 #56

Actually, I would say drive + intelligence + opportunity AZ Progressive Jul 2015 #106

Opportunity is directly correlative to capital. Maedhros Jul 2015 #112

There is something deeper here. PowerToThePeople Jul 2015 #109

These are the students who are rich IN college daredtowork Jul 2015 #59

Yep, am spending a ton of money trying to keep my older daughter from taking loans to pay college stevenleser Jul 2015 #60

Another thing left out is that millenials will receive the yeoman6987 Jul 2015 #65

They'll just have to wait ... JustABozoOnThisBus Jul 2015 #66

Lol. Too funny. I hope you guys live forever. yeoman6987 Jul 2015 #72

I disagree mcar Jul 2015 #75

They populate HGTV. CrispyQ Jul 2015 #77

Really sick of the click bait headlines oberliner Jul 2015 #80

I personally know many millennials Snobblevitch Jul 2015 #81

That's pretty much the way it is in the rest of the world Major Nikon Jul 2015 #82

Don't forget having children FLPanhandle Jul 2015 #84

Whoda thunk it? I mean really. hifiguy Jul 2015 #89

My eldest is 25. He has a car, a truck, a harley, a wife, a job, a dog, and a 3br house. lumberjack_jeff Jul 2015 #94

you know it, Jeff Skittles Jul 2015 #98

"How can I afford college?" lumberjack_jeff Jul 2015 #103

one of the problems now is Skittles Jul 2015 #113

Fully agree. Credential creep is a big money maker for colleges. lumberjack_jeff Jul 2015 #115

"credential creep" Skittles Jul 2015 #116

My parents aren't rich RoccoRyg Jul 2015 #104

The people who are best off are the ones that early on realize that life is a game... AZ Progressive Jul 2015 #105

And most don't give a damn about anyone else, having endured the hardship of inherited wealth. nt kelliekat44 Jul 2015 #107

Even the offspring of the rich are getting richer! Emelina Jul 2015 #108

Rich parents. This is exacly why we need to elect Bernie, and give every kid real opportunity. nt Zorra Jul 2015 #114

Post removed Post removed Jun 2017 #117